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kap industrial holdings ltd (KAP) Details

KAP Industrial Holdings Limited operates in the supply chain, passenger transport, timber, and manufacturing businesses in South Africa and internationally. It operates through Freight and Logistics; Fuel, Agriculture and Mining; Passenger; Integrated Timber; and Manufacturing divisions. The Freight and Logistics division designs, implements, and manages supply chain and logistics services. This division offers distribution and warehousing services to the manufacturing, industrial, and allied sectors. The Fuel, Agriculture and Mining division provides specialized transportation and fuel logistics services to the petrochemical and gas industries, as well as transport and related logistics services to the agricultural and mining industries, including the sugar industry. The Passenger division provides personnel, tourist, intercity, and commuter transport services. The Integrated Timber division includes timber plantations, sawmills, and production facilities for resin and panel products. The Manufacturing division produces polyethylene terephthalate resin used to produce packaging for the beverage and other industries; raw materials and components used in the assembly of vehicles; foams, springs, mattress tickings, and toweling products, as well as assembles mattresses for sales to retail partners. The company is headquartered in Stellenbosch, South Africa. KAP Industrial Holdings Limited is a subsidiary of Steinhoff International Holdings Limited.

Kap Industrial Holdings Limited announced unaudited consolidated earnings results for the six months ended December 31, 2014. For the period, the company reported revenue of ZAR 8,114 million against ZAR 7,418 million a year ago. Earnings before interest, dividend income, associate and joint venture earnings and taxation was ZAR 751 million against ZAR 702 million for the same period in the last year. Operating profit before depreciation, amortization and capital items was ZAR 1,170 million compared to ZAR 1,102 million a year ago. Profit before taxation was ZAR 591 million compared to ZAR 534 million a year ago. Profit for the year from continuing operations was ZAR 429 million compared to ZAR 385 million a year ago. Profit for the year attributable to owners of the parent company was ZAR 415 million compared to ZAR 354 million a year ago. Fully diluted headline earnings per ordinary share were 18.9 cents compared to 16.0 cents a year ago. Fully diluted earnings per ordinary share were 17.5 cents compared to 15.0 cents a year ago. Fully diluted headline earnings per ordinary share from continuing operations were 18.3 cents compared to 16.2 cents a year ago. Fully diluted earnings per ordinary share from continuing operations were 17.4 cents compared to 15.6 cents a year ago. Headline earnings attributable to ordinary shareholders were ZAR 449 million compared to ZAR 377 million a year ago. Net cash outflow from operating activities was ZAR 178 million compared to ZAR 63 million a year ago. Additions to property, plant and equipment-expansion were ZAR 213 million compared to ZAR 197 million a year ago. The group's net interest-bearing debt as on December 31, 2014 was ZAR 3,299 million against ZAR 3,404 million as on December 31, 2013.

KAP group Announces Executive Changes

Nov 18 14

KAP Industrial Holdings Limited announced that Mr. K J Grové (65) will step down as chief executive officer but will continue to serve on the board as executive deputy chairman. Mr. J de V du Toit (60) will remain as the company’s independent non-executive chairman. Mr. G N Chaplin (44), chief executive officer of the company’s integrated timber division, has been appointed to the board and will replace Mr. Grové as chief executive officer of KAP. Prior to this appointment, Mr. Chaplin’s duties within the group included responsibility for the group’s PG Bison Proprietary Limited operations and oversight of the group’s two manufacturing divisions, Hosaf and Feltex. Mr. G Victor (48), who has served on the board of PG Bison Proprietary Limited since 2009 and who has extensive experience in the timber-based panel industry, will succeed Mr. Chaplin as chief executive officer of the integrated timber division. Mr. J B Magwaza (72), who has served on the board of the company since 2004 as an independent non-executive director, elected not to stand for re-election to the board at the annual general meeting held on 18 November 2014 and, in accordance with the company’s memorandum of incorporation, retires from the board on this date. Mr. Magwaza also steps down as chairman of the company’s human resources and remuneration committee and as a member of the company’s nomination committee. Mr. S H Müller, independent non-executive director, has been appointed to replace Mr. Magwaza in these positions.

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